Answer: It will have negative consequences.
Explanation:
Economies need to be able to take care of their people and meet their demands. To do so they will need to ask 3 Economic questions being;
- What goods and services should be produced?
- How should these goods and services be produced?
- Who consumes these goods and services?
The reason for this is to prioritize resources. Resources in an Economy are finite and so cannot be used carelessly. The 3 questions will therefore help an economy know what it needs prioritize in production so that the resources can be used efficiently.
If these questions are not addressed, the Economy might use resources in an inefficient manner that will make them even more scarce which will negatively affect the Economy.
